Why should you not model a decision variable as a random variable with a probability distribution?

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Making Hard Decisions with decision tools

ISBN: 978-0538797573

3rd edition

Authors: Robert Clemen, Terence Reilly

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Question Posted: Dec 22, 2015 02:05 AM

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Why should you not model a decision variable as a random variable with a probability distribution?

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Many students believe that using a discrete distribution to model a decision variable is appropriate ...View the full answer

Making Hard Decisions with decision tools

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